JK Tyre zooms 51% in 4 days, hits fresh 52-week high on robust Q3 results

The strong performance during the quarter was largely driven by the increased demand for passenger, commercial vehicle as well as farm tyres

Shares of JK Tyre & Industries hit a fresh 52-week high of Rs 132, soaring 14 per cent on the BSE in the early morning trade on Friday, after the company reported highest-ever quarterly sales and net profit for the quarter ended December 2020 (Q3FY21). The stock of tyre & rubber products maker zoomed 51 per cent in past four trading days.

The company's consolidated sales grew 26 per cent year on year (YoY) to Rs 2,776 crore, a best-ever for any quarter. Ebitda (earnings before interest, taxes, depreciation, and amortization), meanwhile, doubled to Rs 507 crore and profit before tax